A step in the right direction. But the great majority of votes are cast by Fiduciary Investors (Pension and Mutual Funds, Asset Managers, Private Banks, Insurance Firms and Sovereign Wealth Funds), often relying on input from Proxy Advisers that are responsible to no one. So this is not going to move the Corporate Governance needle that much until there are ways that the real end investor can control how these Fiduciaries cast the votes on his behalf.
Fair Game: Shareholder Proxies Could Be the New Regulators
This Cooley PubCo blog discusses the latest development in the now
five-year-long saga involving the SEC’s proxy advisor rulemaking. In
February, Liz share...
20 hours ago
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